To learn how to read bets odds, it is very important to take into consideration several factors to improve your winning percentage. While it may seem complicated at first, with some practice, you will develop the necessary expertise and make it come naturally. Calculate your winning percentage quickly and easily learning how to interpret odds ratio with the following esports odds guide.
How esports odds work?
If you have experience in other types of betting, you will find it gratifying to see that esports odds don’t have many differences from other bets you often find at traditional bookmakers. This means that the science behind each of these bets is simple to understand and you will ultimately be rewarded financially with esports betting.
Correctly reading odds ratio, you need to know that these provide a probability of an outcome.
That probability is put together to make a calculation that allows the bettor to win a percentage of money from the bet placed. Both traditional betting odds and sports betting odds variations have the same format and use the same formula to calculate the odds of winning.
This means that if you are already reading sports odds or casino odds, you will have a greater advantage in learning how to read bets odds. Especially since there are only three ways of reading esports betting odds which are fractional, decimal, and American.
How to read bets odds: Guide for different esports betting odds.
As stated above esports odds are displayed in three different ways most of the time. Each one will work differently, so you will need to know how these odds work and then choose a site that uses the one that fits more to you. That way, you will truly become a pro when talking about bets.
Besides, keep in mind that live-odds change along the way. You can check our last 5 odds table here and get a sight of how this works:
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Known to be the traditional odds format that started with horse racing and is now the most popular in the UK. To make a reading of this format you should know that one side of the fraction always represents a team and the outcome and the other side corresponds to the other team.
side corresponds to the other team. Generally, it is an easy-to-understand format, for example, if you back a team with a 3/1 win and your stake is £10, your profit will be £30 with a probability of the team winning of 33.3%.
To arrive at this conclusion you would have to multiply your £10 bet by the top number and then divide by the bottom number. With the above example, this would be reflected as £10 x 3 = £30 and £30 ÷ 1 = £30, in turn, to calculate the percentage you will have to divide the total of the two numbers by 100 and multiply it by the second number. In this case, it is 100 ÷ 3 = 33.3% x 1, in case the support for the team is at odds with the rest of the participants, your winnings will be £ 5 and a probability of winning of 66.6%.
While these are usually simple fractional odds, with more complex odds you can perform the same procedure or turn to online esports odds converters or more modern and easy-to-use odds formats.
They are currently the most used format in the world of esports betting thanks to being universally understood and easy to read. To make an esports odds reading with this format, you must calculate your potential winnings with decimal odds. This means that you must multiply your bet by the odds shown.
shown, e.g. if you back a team to win and you bet £10 with odds of 4.1, your potential profit will be £41.
Note that, unlike fractional odds, decimal odds give you potential winnings that include your stake. The simple formula for reading the esports win odds is to divide 1 by the odds and then multiply by 100. The above example would be reflected as (1 ÷ 3.1) x 100 = 32.3%.
How to read bets odds: American odds
To bet on esports in the USA and Canada you need to follow different odds; this type of odds format is only used in those countries and is reputed to be the most difficult for esports players to read. However, once you learn how to read the odds correctly you will find it the easiest option of all. Keep in mind that there are two formats in this probability: positive numerical and negative numerical.
Reading positive number probabilities is simple, you will have to see first of all that it has a positive sign before the amount. In it, the number shown is the amount of money you can win if you bet $100, for example in a +200 probability you have a chance to win $200 if you bet $100. In this case, your bet is not included as with the fractional odds calculations.
Reading negative numerical odds you will see that the number reflected will be the amount you must bet to win $100. For example, if you see odds – 200 it means that you must place a bet of $200 to win $100. Now you see how reading odds for esports betting can be done; put this into practice on your favorite esports bookmakers and make some real cash.